RB Global (NYSE:RBA) Sees Large Volume Increase – Should You Buy?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) saw unusually-strong trading volume on Monday . Approximately 2,829,959 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 1,645,724 shares.The stock last traded at $102.2450 and had previously closed at $103.29.

Analyst Ratings Changes

A number of brokerages have issued reports on RBA. Bank of America cut their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Weiss Ratings downgraded shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. National Bankshares cut their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Finally, National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target for the company in a research note on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.88.

RB Global Stock Performance

The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 50.78, a P/E/G ratio of 1.99 and a beta of 0.57. The stock has a 50 day simple moving average of $100.97 and a 200 day simple moving average of $106.70. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s payout ratio is currently 59.33%.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein bought 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $101.26 per share, with a total value of $101,260.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 4.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently modified their holdings of RBA. Central Pacific Bank Trust Division lifted its holdings in RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 107 shares during the last quarter. Spire Wealth Management raised its holdings in shares of RB Global by 1,090.6% in the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after purchasing an additional 349 shares in the last quarter. State of Wyoming acquired a new stake in RB Global during the second quarter valued at approximately $46,000. Whipplewood Advisors LLC boosted its holdings in RB Global by 42.9% during the second quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after buying an additional 137 shares in the last quarter. Finally, SouthState Corp grew its position in RB Global by 75.6% in the second quarter. SouthState Corp now owns 453 shares of the business services provider’s stock worth $48,000 after buying an additional 195 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.